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PSX tops 179,000 as equities extend rally | The Express Tribune
The new flat 15% CGT rate for filers and 20% for non-filers will be applicable to only those shares that are bought and sold on and after July 1, 2017. PHOTO: FILE
KARACHI:
Pakistan equities extended their bullish run at the start of 2026, with the benchmark KSE-100 Index surging 1.52% on Friday to close slightly above 179,000, driven largely by sustained buying from local institutional investors. The rally followed a strong weekly performance marked by gains in banking, fertiliser and energy stocks, while robust fertiliser sales data further boosted investor sentiment. Despite foreign investors remaining net sellers, broad-based participation and heavy trading volumes underscored growing confidence in the market’s near-term outlook.
“The rally was once again driven by domestic institutional buying, with broad-based participation across blue-chip stocks, reinforcing the prevailing positive trend,” said Ali Najib, Deputy Head of Trading at Arif Habib Limited.
At the close of trading, the benchmark KSE-100 Index posted a gain of 2,679.44 points, or 1.52%, to settle at 179,034.93.
According to Arif Habib Limited (AHL), the Pakistan Stock Exchange (PSX) witnessed a strong start to 2026, with the KSE-100 Index gaining 3.85% on a week-on-week basis. On Friday, market breadth remained positive as 64 shares closed higher, while 35 declined. United Bank Limited (UBL), Engro Fertilisers (EFERT) and Engro Holdings (ENGROH) were the major contributors to index gains, rising by 4.73%, 10.0% and 2.89%, respectively. In contrast, Lucky Cement (LUCK), Maple Leaf Cement (MLCF) and DG Khan Cement (DGKC) emerged as the biggest drags on the index, shedding 0.54%, 1.09% and 1.16%, respectively.
On the macroeconomic front, data from the Pakistan Bureau of Statistics (PBS) showed that Pakistan recorded a trade deficit of $3.7 billion in December 2025. Exports during the month stood at $2.3 billion, reflecting a sharp decline of 20.4% year-on-year and 4.3% month-on-month, while imports rose to $6.0 billion, up 2.0% year-on-year and 13.5% month-on-month. Cumulatively, during the first half of FY26, the trade deficit widened by 34.6% year-on-year to $19.2 billion.
Meanwhile, the government is reportedly considering imposing a levy of up to 5% on the import of mobile phones and electronic devices under a proposed policy framework for 202633, a move expected to be positive for Airlink, whose shares gained 1.21%. From a technical perspective, AHL noted that immediate support for the KSE-100 is placed at 175,000 points, while 182,000 points represents the near-term upside target for the coming week.
A Topline Securities market review said the KSE-100 Index continued its bullish momentum, gaining 1.52% to close at 179,039. The rally was attributed to recent buying by local institutions on new allocations. Investor interest was particularly evident in the fertiliser sector, following Topline Securities Limited’s report, “Pakistan Fertiliser – Urea sales for Dec 2025 at an all-time high of 1,356,000 tonnes; inventory at 0.31 million tonnes.” The fertiliser sector closed 2.7% higher.
The top positive contribution to the index came from UBL, EFERT, ENGROH, PPL, OGDC and FFC, which cumulatively added 1,663 points. In terms of traded value, Bank of Punjab (Rs4.28 billion), PSO (Rs3.98 billion), PPL (Rs3.33 billion), OGDC (Rs3.24 billion), MARI (Rs3.16 billion), HUBC (Rs2.56 billion) and MEBL (Rs2.55 billion) dominated trading activity. Traded volume and value for the day stood at 1.1 billion shares and Rs64 billion, respectively.
Overall trading volume in the Ready Market was recorded at approximately 1.11 billion shares, compared with 1.40 billion in the previous session. The value of shares traded stood at Rs64.34 billion.
Shares of 484 companies were traded in the Ready Market. Of these, 253 stocks closed higher, 201 declined and 30 remained unchanged.
Bank of Punjab was the volume leader, with trading in 102.5 million shares, gaining Rs1.89 to close at Rs42.23. It was followed by K-Electric with 100.09 million shares, losing Rs0.12 to close at Rs6.35, and Media Times Limited with 43.63 million shares, gaining Re1 to close at Rs5.84.
Foreign investors sold shares worth Rs7 billion, according to data released by the National Clearing Company.
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Pension Fund Regulatory and Development Authority mandates OTP or e-sign authentication for National Pension System online registration.
News18
The Pension Fund Regulatory and Development Authority (Pension Fund Regulatory and Development Authority) has tightened the process for paperless onboarding under the National Pension System (National Pension System), making OTP- or e-sign-based authentication mandatory at the final stage of online registration.
In a circular dated January 2, 2026, the regulator asked all Central Recordkeeping Agencies (CRAs), Points of Presence (POPs), and other NPS stakeholders to align their systems with the updated requirements.
What has changed
The new circular partially modifies the earlier June 2020 guidelines that allowed paperless NPS account opening using either e-sign or OTP. While both modes remain valid, the regulator has now clarified that authentication through e-sign or OTP received on the applicant’s registered mobile number is compulsory to complete the online registration journey.
Importantly, subscriber consent and all mandatory declarations must now be explicitly obtained at the end of the digital onboarding process through the same authentication method.
Why the Move Matters
The clarification aims to strengthen the integrity of digital onboarding and ensure that subscriber consent is clearly recorded. By mandating authentication at the final stage, the regulator seeks to reduce disputes, improve audit trails, and enhance subscriber protection in a fully paperless environment.
The move also aligns NPS onboarding with broader trends in digital financial services, where OTP and e-sign authentication have become standard practice.
What CRAs and POPs Must Do
The regulator has directed CRAs and POPs to update their IT systems, workflows, and subscriber journeys in line with the revised norms. This includes ensuring that online forms cannot be submitted without successful OTP or e-sign verification.
The circular has been issued under powers granted by Section 14 of the PFRDA Act, 2013, making compliance mandatory for all stakeholders.
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January 05, 2026, 16:13 IST
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The price of gold in Pakistan saw one of the biggest surges ever in both global and Pakistani markets on Monday.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold increased by a massive Rs9,200 per tola, reaching Rs464,762, as global rates rose amid steady investor demand.
The price of 10 grams of gold also climbed by Rs7,888 to Rs398,452, according to the APSGJA.
The price of 10g of 22-karat gold increased by Rs7,231 to reach Rs365,266.
In the international market, gold prices increased by $92 per ounce to settle at $4,424. The uptick reflects sustained global interest in precious metals amid economic uncertainty and shifting currency trends.
Silver followed a similar trajectory, with the price per tola of 24-karat silver rising by Rs267 to Rs8,023. The price of 10 grammes of 24k silver hiked by Rs229 to be sold for Rs6,878.
Supermarket Aldi has revealed a £1.65 billion sales haul over the Christmas month as price remained the “biggest priority” for shoppers.
The group reported a 3% rise in total sales over the four weeks to Christmas Eve as it notched up a record 57 million transactions.
The German-owned discounter – Britain’s fourth biggest grocery chain – said sales jumped by more than 5% in the final trading week leading up to Christmas, with around £500 million rung up through its tills.
The performance for the month-long run-up marks a slight slowdown on the previous Christmas, when sales lifted 3.4%.
Last week, close rival Lidl reported a 10% rise in Christmas sales as it made more than £1.1 billion in turnover over the four weeks leading up to December 24, but the two discounters do not provide same-store comparable sales for the period.
Aldi said price was “the biggest priority for shoppers in 2025, with customers seeking ways to celebrate on a budget”.
Despite this, customers traded up to its premium own-brand range, Specially Selected, which saw sales rise by over 12%.
Giles Hurley, chief executive of Aldi UK and Ireland, said: “This Christmas proved once again that a great quality Christmas can still be affordable.
“We’re grateful that more people than ever chose Aldi for their Christmas shop and trusted us to deliver both quality and value during what remains a challenging time for many.”
Aldi said Tuesday December 22 was its busiest trading day over the festive period.
There was strong demand for key festive British-sourced meat and vegetables, with customers buying 56 million potatoes, 37 million carrots and half a million turkeys.
The group also sold more than 5.5 million bottles of sparkling wine over the festive period.
The German discounters have kicked off the festive reporting season from the supermarket sector, with Tesco, Sainsbury’s and Marks & Spencer to follow later this week.
In September, Aldi announced a further £1.6 billion of investment to accelerate its UK supermarket expansion, with 80 openings planned over the next two years.
The chain, which currently has around 1,060 stores, has previously said it is targeting 1,500 locations across the UK.
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